| NEWS ARCHIVES |
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| SPRING Singapore's help for SMEs during financial crisis enabled firms to weather crisis |
| 8 Feb 2010 |
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SPRING Singapore says its efforts to help small and medium-sized enterprises here to overcome the financial crisis have borne fruit.
It points out that through the Special Risk-sharing Initiative and enhanced SME loan schemes, some 14 thousand loans amounting to 6 billion dollars were made.
93 percent of the loans were extended to SMEs.
Under SPRING's Business Upgrading Initiatives for Long-term Development (BUILD) programme, it also supported some 2,600 projects involving more than 3,000 firms.
SPRING says the projects span across various capability areas such as design, branding, technology innovation and service excellence.
Together, they will generate new value added of 4.5 billion dollars and create 13 thousand new jobs.
CEO of SPRING, Png Cheong Boon gave the updates today at a groundbreaking ceremony for local SME, Yang Kee’s Chemical Logistics Hub.
Meanwhile...
Home-grown firm Yang Kee Logistics has announced a multi-million dollar plan to build a new hub at Jurong Pier Road.
The total investment for phase one of the hub is expected to come up to 45 million dollars.
The five storey hub, with a site area of 4 hectares, will centralise current operations from the company’s six different warehouses.
Expected to be completed in early 2011, the new chemical logistics hub will feature specialised chemical storage capabilities.
It will also incorporate new technologies to improve productivity and reduce its carbon footprint.
Currently, Yang Kee employs about 180 workers to date.
The number is expected to rise to 280 by 2012.
Going forward, Yang Kee is looking to establish itself as a regional headquarters to expand their pan-Asian logistics operations internationally.
It now services Asian markets such as Indonesia, Shanghai and Cambodia, and has plans to move into Korea, Australia and the US. |